Regulatory Alerts2021-09-10
Added · Updated
Order Dismissing Administrative Proceedings and Order Vacating Civil Penalty
The Banking Commissioner dismisses the administrative proceedings against Great Plains Lending, LLC and Clear Creek Lending, and vacates the civil penalty imposed on John R. Shotton. This action follows a Connecticut Supreme Court ruling that Great Plains qualified as an arm of the tribe and Shotton was entitled to sovereign immunity against civil penalties, while directing further proceedings to determine Clear Creek's status. The Commissioner acknowledges that Clear Creek ceased business in Connecticut in February 2015 and that affected residents were eligible for relief under a separate class action settlement.
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